20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
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Olymp Trade Review 2024
Minimum
deposit:
deposit:
- $10
Trading platform:
- MetaTrader4
- Proprietary platform
Regulation:
- VFSC
- FinaCom
Minimum
deposit:
deposit:
- $10
Trading platform:
- MetaTrader4
- Proprietary platform
Regulation:
- VFSC
- FinaCom
Trading features:
- Binary options
Summary of OlympTrade Trading Company
OlympTrade is a broker with higher-than-average risk and the TU Overall Score of 4.54 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by OlympTrade clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work. OlympTrade ranks 20 among 21 companies featured in the TU Ranking, which is based on the evaluation of 100+ criteria and a test on how to open an account.
Olymp Trade broker is focused on providing clients with binary options and is perfect for both novice and professional traders.
The Olymp Trade brokerage company was founded and licensed in April 2012. The company launched a mobile version and an app in 2013. The broker founded Olymp Trade Academy and began providing binary options services to traders in March 2015. The company has over 10 awards including 3 international accolades. It is regulated by the International Financial Commission (IFC).
| 💰 Account currency: | EUR, USD |
|---|---|
| 🚀 Minimum deposit: | $10 |
| 🔧 Instruments: | Currency pairs, cryptocurrencies, stocks, indices, commodity assets |
👍 Advantages of trading with OlympTrade:
- convenient platform interface;
- low minimum deposit of $10;
- beneficial trading conditions.
👎 Disadvantages of OlympTrade:
- few trading instruments;
- no tournaments or contests for traders;
- delays when withdrawing funds;
- few deposit and withdrawal methods;
- no investment programs;
- only two trading platforms;
- different trading conditions for different assets.
Evaluation of the most influential parameters of OlympTrade
Trade with this broker, if:
- You value a convenient platform interface, as this broker offers a user-friendly interface, making it easy for traders to navigate the platform and execute trades efficiently.
- You prefer a low minimum deposit requirement. With a minimum deposit of just $10, this broker offers accessibility to traders with varying budget sizes.
Do not trade with this broker, if:
- You are averse to delays when withdrawing funds, as the broker has a history of delays in processing withdrawals, which may indicate potential issues with liquidity or operational efficiency and could affect your ability to access your funds in a timely manner.
- You are interested in investment programs, as this broker does not offer investment programs or opportunities for passive income generation. You may miss out on potential avenues for diversifying your investment portfolio and maximizing returns.
Table of Contents
Geographic Distribution of OlympTrade Traders
Popularity in
21.98%
IN
20.41%
EG
6.61%
DZ
6.27%
PH
6.2%
MX
6.06%
VN
6.05%
MA
5.04%
PK
4.48%
BR
4.28%
CO
34.62%
Others
Video Review of OlympTrade i
User Satisfaction i
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Expert Review of OlympTrade
Olymp Trade brokerage company has been providing its services in the options market for only a short time, but during this time it has proved itself as a promising broker. The company is actively working to provide its clients with the most convenient trading conditions like an intuitive interface of the trading platform, no commission for depositing and withdrawing funds, low minimum deposit, and round-the-clock multilingual support.
Olymp Trade provides a comfortable working environment for both professional and novice traders. The company has obtained hundreds of good reviews. First of all, clients are satisfied with a simple registration process, a small deposit, and the convenient proprietary terminal. Slippage and freezing are practically non-existent on the trading platform. Negative feedback about the company is associated with the lengthy withdrawal of funds.
The support service is ready to help with this and any other problems twenty-four/seven. The average duration of a response to a client's request is up to 15 seconds, which makes it possible to name the Olymp Trade broker's support service one of the most efficient. Customer support service responds in 10 languages.
At the moment, this brokerage company holds a leading position among the companies offering traders to earn on binary options.
Best Forex broker based on expert and trader reviews
Dynamics of OlympTrade’s popularity among
Traders Union’s traders, according to 2023 data
Investment Programs, Available Markets and Products of the Broker
The Olymp Trade broker is focused on active trading and does not offer any investment programs.
Important!
If you are a large investor and plan on investments over $ 10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Olymp Trade affiliate program
Become a member of the referral program to earn passive income in Olymp Trade without trading in Forex.
The broker offers only one partnership option. To become a member of Olymp Trade affiliate program, just go to the broker's home page, click on the "Become an Affiliate" button and go through a short registration procedure.
You will get a personal referral link and promotional materials in the form of banners, logos, videos, and strategies from Olymp Trade. You’ll distribute these materials online and thus attract new clients to the company and earn a percentage of their income from trading. On average, a partner earns 50-60% of the profits of the invited trader.
The Olymp Trade referral program is outstanding with its convenient and simple registration system so that anyone who feels like it can associate himself with a partner.
Trading Conditions for OlympTrade Users
There is a low minimum deposit required to start trading, only $10. The Olymp Trade proprietary trading platform has a simple and convenient interface that even the most inexperienced trader can navigate.
The leverage at Olymp Trade is not fixed and depends on the asset type. Detailed information on each asset is available on the broker's website.
The broker is focused on providing services to both professionals and novice traders. The company provides free access to training materials to improve the skills of its clients. You can also find here text materials on fundamental and technical analysis, money management, and trading psychology. The training base also includes webinars, the total duration of which is 296 hours.
If you have any questions or problems, you can contact the support service at any time of day or night by calling, messaging in chat, or e-mail. Olymp Trade specialists work twenty-four/seven to respond to clients in 10 languages. Moreover, in the "Help" section of the personal account on the Olymp Trade platform, you can ask a question to a specialist, order a callback from an analyst, or find answers to frequently asked questions.
$10
Minimum
deposit
1:500
Leverage
24/7
Support
| 💻 Trading platform: | Proprietary platform and MetaTrader 4 |
|---|---|
| 📊 Account types: | Demo, Real, MT4 |
| 💰 Account currency: | EUR, USD |
| 💵 Replenishment / Withdrawal: | Visa and MasterCard bank cards, electronic payment systems Neteller, WebMoney |
| 🚀 Minimum deposit: | $10 |
| 📈️ Min Order: | $1 |
| 🔧 Instruments: | Currency pairs, cryptocurrencies, stocks, indices, commodity assets |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| ⭐ Trading features: | Binary options |
| 🎁 Contests and bonuses: | Yes |
Comparison of OlympTrade with other Brokers
| OlympTrade | Pocket Option | Binary.com | QUOTEX | Raceoption | Centobot | |
| Trading platform |
Webterminal | MT5, Web, Mobile | WebTrader, Mobile | Mobile MT4, Web platform, Browser platform | Raceoption (Mobile), WebTrader | RaceOption, Binarycent, Videforex |
| Min deposit | $10 | $5 | $5 | $10 | $10 | $250 |
| Trading instruments |
currency pairs / CFD, oil, BRENT grades, gold, silver | currency | indexes, Forex, goods, stock, random index | currency pairs / CFD, indices, Cryptocurrencies, Commodities | Stocks, Commodities, Crypto, Options, currency pairs / CFD, Currencies | Binary options (fiat currencies and cryptocurrencies) |
| Signals | Yes | No | No | No | Yes | No |
| Analytical support |
Yes | No | Yes | No | Yes | No |
| Training | Yes | No | Yes | No | Yes | No |
| Additional tools |
Cancelling of an option prior to the beginning of its action | Copy Trading tool | premature closing | No | Copy Trading tool | No |
Broker comparison table of trading instruments
| OlympTrade | Pocket Option | Binary.com | QUOTEX | Raceoption | Centobot | |
| Forex | Yes | Yes | Yes | Yes | Yes | No |
| Metalls | Yes | No | Yes | Yes | Yes | No |
| Crypto | Yes | Yes | No | Yes | Yes | Yes |
| CFD | No | No | Yes | Yes | Yes | Yes |
| Indexes | Yes | Yes | No | Yes | Yes | No |
| Stock | Yes | No | No | No | Yes | No |
| ETF | Yes | No | No | No | No | No |
| Options | Yes | Yes | Yes | Yes | Yes | Yes |
OlympTrade Commissions & Fees
Information
Olymp Trade was verified by the Traders Union specialists for trade and non-trade commissions. The spread set by the broker is considered as a trading commission, additional fees for depositing funds or for withdrawing them are considered as a non-trading commission.
| Account type | Spread (minimum value) | Withdrawal commission |
| Real | Depending on the transaction amount and leverage | No |
Also, the broker's trading commission size was analyzed and compared with the indicators of competing companies such as Binomo and Binarium. According to the analysis, the fees were divided into three categories: low, medium, and high.
| Broker | Average commission | Level |
| OlympTrade | $5 | High |
| Binary.com | $0 | Low |
| Binomo | $2 | Medium |
Detailed Review of Olymp Trade
The Olymp Trade brokerage company is relatively new on the market: it has been providing binary options services since 2015. In the very first year of active work, Olymp Trade was recognized as one of the most popular trading platforms. The company is in a process of providing traders all over the world with the most profitable and comfortable trading conditions.
Olymp Trade is a member of the International Financial Commission (IFC). IFC also regulates the broker's activities, ensures the interests of clients, and monitors the company's compliance with all requirements. If Olymp Trade defaults on an obligation to its clients, the broker shall be deprived of accreditation to provide financial services.
A few figures that could be interesting for traders choosing a broker:
-
Over $1 million paid out to clients;
-
3 international awards;
-
5 minutes to open an account with a broker;
-
$10 is the minimum deposit amount;
-
The support service responds to customers in 10 languages;
-
Users automatically get $10,000 deposited into their demo-account after registration;
-
16,000 clients actively trading in options;
-
qualified support service works twenty-four/seven;
-
over 60 trading instruments for traders;
-
there are over 296 hours of all training videos.
Olymp Trade offers binary options for novice and professional traders
Olymp Trade is one of the leaders in the binary options market in the world. The broker provides its clients with comfortable and profitable trading conditions, regardless of their trading experience. The company makes binary options budget-friendly.
The advantages of this broker are a minimum deposit of $10, which can be afforded by any novice trader, and also a simple registration system. All you need to get started is 5 minutes of your time to register. Verify your account using your phone number and email.
The company offers clients STP and ECN accounts. It means that all customer transactions are sent directly to the interbank market and there are no intermediaries in the trading process. These types of accounts require a high order execution speed and asset liquidity. It is also worth noting the platform's convenient interface, its stable operation, and the speed of transactions. You can set up one-click trading in the terminal if required.
The broker has prepared a "strategies" section for inexperienced traders, where you can get acquainted with the most effective and common trading strategies. Olymp Trade also allows the use of automated trading programs (advisors, indicators, etc.), which you can install on the MT4 platform on your own.
Advantages:
1
quick and easy registration procedure; The process will take no more than 5 minutes.
2
intuitive interface. The Olymp Trade platform makes things better as much as possible for comfortable work;
3
the low minimum deposit is only $10. Everyone can try a hand at trading;
4
A variety of training materials and analytics is available. Olymp Trade provides information for advanced training for both experienced and novice traders;
5
there is no commission for funds withdrawing and replenishing. The broker undertakes all the payments to banks and electronic payment systems;
6
trading can be carried out both on a PC and on a mobile device. To trade, you just need stable Internet access;
7
there are practically no delays in the trading terminal operation;
8
support service works twenty-four/seven and responds in 10 languages;
9
Forex trading with Olymp Trade is available daily, including on weekends;
10
a large number of additional materials: daily and weekly reviews, trading platform news, lifestyle, money management, and trading psychology.
How to Start Making Profits — Guide for Traders
Go to the broker's official website and open a personal account to start working with Olymp Trade. The broker offers clients three types of accounts — demo, real, and an account for the MetaTrader 4 platform. You can replenish the deposit of each of the accounts using bank cards and electronic payment systems.
Types of accounts
Account Type
Description
Demo-account
A demo account can be used by both novice and professional
traders. This is the best way for a novice trader to train and get experience in trading. Using
a demo account, a professional market participant can test new trading styles and strategies and
to identify the most effective and profitable ones. There is no need to invest a cent to start
working on such an account. Moreover, immediately after registration you will get $10,000 on a
demo account and can use them for educational purposes.
Real account
This account provides the same options as the demo account.
The only difference is that it allows you to earn and lose money. One of the following shall be
assigned after registration: Starter, Advanced, or Expert. Each has its own advantages. After a
real account registration, you can change your account status by depositing the minimum amount
for the status selected.
Starter
The status is intended for novice traders. Make a minimum
deposit of $10 to get started. If required, this amount can be increased but you need at least
$10 to start trading. The maximum profitability is 82%, the maximum number of open transactions
is 10, and the maximum transaction amount is $2,000. You’ll have access to basic training
materials.
Advanced
This status is perfect for traders who have experience in
trading. Replenish a deposit of at least $500 to activate the status. The transaction's
profitability could be up to 84%, and you will be provided with 2 assets with higher profit
margins. On such an account, you can open not more than 20 transactions and the maximum
transaction amount is $3,000. Except for basic training materials, you’ll have access to 7
unique trading strategies, 1 personal analyst consultation per month and access to 1 private
webinar per week, and access to tailored material.
Expert
This status is intended for professional traders. To open
it, replenish a deposit for $2,000 or more. The order margin is up to 92%; the client is also
provided with 6 assets with higher profit margins. You can open up to 30 orders with the Expert
status. The maximum transaction amount is $4,000; Additionally, you will get access to all
closed training materials, trading signals, and also have 1 consultation from a personal
analyst, access to 3 closed webinars per week, 15 unique trading strategies, and exclusive
trading ideas.
Account for МТ4
This account is intended for users who prefer standard Forex
trading over binary options. The registration process is in no way different from opening a real
account, but you will use MetaTrader4 as the trading platform.
Bonuses Paid by the Broker
The brokerage company offers all registered clients to use the bonus. You can increase your capital twice after opening a real account. Just replenish your deposit for an amount over $10. You can get a bonus within one hour from the moment of opening an account. Any amount deposited shall be automatically increased and can be used for trading.
The broker does not have contests and trading tournaments.
Investment Education Online
Information
Olymp Trade Company helps traders to improve their skills. The broker also provides clients with the "Training" section, which contains 296 hours of training materials.
Information available in the "Training" section
Information not on the Olymp Trade website
Recordings of webinars and announcements of upcoming lectures
Trader's glossary
Tutorial articles
Analytical materials
To enhance training efficiency, it is recommended to apply the knowledge acquired in practice using a demo account simultaneously with studying the theory. It can be used by both a novice trader for training and by a professional to test a new trading strategy or trading style. Practicing on a demo account helps you to gain the necessary experience and avoid possible losses.
Security (Protection for Investors)
Information
The broker is a member of the International Financial Commission (FinaCom). Olymp Trade is regulated by this authority. The organization not only regulates the provision of financial services but is also a consumer protection organization. In any legal conflicts, the International Finance Commission regulates the issue following technical and legal principles.
Olymp Trade shall fulfill several requirements set for obtaining a license from the International Financial Commission. In case of a failure to fulfill its legal obligations to the regulatory body, the brokerage company’s license to provide financial services shall be revoked.
👍 Advantages
- A certificate for providing financial services is issued by an international regulatory body
- Regulation that fixes the relations between a brokerage company and a client (trader)
- The International Financial Commission regulates conflicts between a broker and a client
👎 Disadvantages
- The company is accredited by only one regulatory body
- No documentation in the public domain. The broker just indicates the organization that issued the certificate
Withdrawal Options and Fees
-
The brokerage company does not charge clients with a non-trading commission for depositing and withdrawing funds. Olymp Trade does not charge a commission for its services.
-
You can deposit and withdraw funds at Olymp Trade using Visa and MasterCard bank cards, as well as electronic payment systems like Neteller, WebMoney, etc.
-
Payment systems and banks charge a commission from the client when withdrawing funds. All costs shall be paid by Olymp Trade brokerage company.
-
The processing time for a withdrawal request takes from a few minutes up to two days, depending on the status of the real account. Application processing for Starter accounts takes up to 2 days, for Advanced accounts just 1 day, and for Expert accounts up to several hours.
-
Withdrawals are made in two currencies: USD and EUR.
-
The brokerage company does not set a minimum amount to be withdrawn to a personal account. The client shall independently determine the minimum amount of payments.
-
Verify your account using your phone number and email to withdraw funds.
Customer Support Service
Information
The Olymp Trade support service is ready to help you twenty-four/seven. Qualified specialists are always ready to help a trader.
👍 Advantages
- Support service works 24/7
- Help is provided by qualified staff
- Prompt response speed takes about 15 minutes
- Support service responds in 10 languages
👎 Disadvantages
- Customer support takes a long time to answer
You can contact the Olymp Trade support service as follows:
-
Call to phone numbers indicated on the website;
-
By email;
-
Online chat on the broker’s website;
-
"Order a call back" in the "Help” section;
-
"Personal analyst".
Contacts
| Foundation date | 2014 |
| Registration address | First Floor, First St. Vincent Bank Ltd Building, P.O Box 1574, James Street, Kingstown, St. Vincent & the Grenadines |
| Regulation |
VFSC, FinaCom |
| Official site | olymptrade.com |
| Contacts |
Email:
support-en@olymptrade.com,
Phone: +35725030996, +27 (21) 1003880 |
Review of the Personal Cabinet of Olymp Trade
To make your insight into Olymp Trade comfortable, we offer you to familiarize yourself with the registration procedure and take a virtual tour of your personal account.
1
If you already have an account with Olymp Trade, go to the broker's home page and click on the "Login" button.
2
Then enter your email and password from your account. You can also enter your account using your Google or Facebook accounts.
3
If this is your first time on the broker's website, click on the "Register" button.
4
After clicking there is a mini-questionnaire that will open on the right side of the screen, where you shall enter your personal data: name, email, phone number, password and select the account currency. You can also register using your Google or Facebook account.
5
After entering all the data, click on the "Register" button, and now you have access to your personal account.
6
By the way, your personal account is also a web platform for trading. In the upper right corner of the screen, find the profile settings, where you can enter your personal data (name, email address, phone number, upload an avatar) and secure your account using two-factor authentication and a complex password.
7
Find the platform settings and additional features on the left side of the screen. There you can find the data on your transaction.
8
Herein there is the “Help” function, where you can contact the support service, analyst, or assistant, as well as find the knowledge base and learn about Olymp Trade updates. Please find the training materials here.
9
The left side-bar also includes the Settings button. Here you can adapt the platform interface as you wish and select the schedule settings necessary for operation.
10
Moreover, the "Next" button is located on the left side of the screen, where you can set up your work profile, replenish a deposit and withdraw funds, read the broker's blog and watch webinars. There is also an economic calendar, analytics, and data on your transactions.
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FAQs
Do reviews by traders influence the OlympTrade rating?
Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about OlympTrade you need to go to the broker's profile.
How to leave a review about OlympTrade on the Traders Union website?
To leave a review about OlympTrade, register on the Traders Union website or you can also leave a review through Facebook.
Is it possible to leave a comment about OlympTrade on a non-Traders Union client?
Anyone can leave feedback about OlympTrade on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.
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